News & Analysis as of

Dodd-Frank Wall Street Reform and Consumer Protection Act Consumer Financial Products Banking Sector

The Dodd-Frank Wall Street Reform and Consumer Protection Act is a United States federal statute signed into law on July 21, 2010. The Act was passed in response to the Great Recession of the late 2000s and... more +
The Dodd-Frank Wall Street Reform and Consumer Protection Act is a United States federal statute signed into law on July 21, 2010. The Act was passed in response to the Great Recession of the late 2000s and includes broad reforms related to many aspects of the financial and banking industry. Notable sections of the Act include stricter regulations of the derivatives market, as well as the Volcker Rule, which restricts the trading practices of FDIC-insured institutions.    less -
Stinson LLP

CFPB Promotes Open Banking as it Issues Final Rule on Personal Financial Data Access Rights

Stinson LLP on

Time will tell whether the Consumer Financial Protection Bureau's (CFPB) stated goals of accelerating "open banking" and competition will come to fruition as a result of the long-awaited final rule implementing Section 1033...more

Hudson Cook, LLP

CFPB Bites of the Month - March 2024 - Here Comes the Sun and the CFPB

Hudson Cook, LLP on

In this month's article, we share some of our top "bites" covered during the March 2024 webinar. Bite 10: CFPB Issues Statement on Privacy and Personal Data - On February 28, 2024, the CFPB issued a statement on...more

GeoDataVision

Did you miss it? Comprehensive review of Section 1071 Rule webinar

GeoDataVision on

Brace yourselves! On March 30th, the CFPB unleashed the long-awaited Dodd-Frank Section 1071 Rule, and it's about to shake the finance world to its core. Thought the CRA data file was a migraine-inducing burden? Section...more

Orrick, Herrington & Sutcliffe LLP

RegFi Special Episode: The CFPB's 1033 Rule in a Nutshell

Join us for this bonus episode where the RegFi hosts share their initial reactions to the CFPB’s proposed rule on Personal Financial Data Rights. The proposed rule, which implements Section 1033 of the Dodd-Frank Act,...more

Katten Muchin Rosenman LLP

Federal Court Grants Bankers' Requested Stay from Compliance with the CFPB's Small Business Data Collection Rule

On July 31, the US District Court for the Southern District of Texas issued an order granting in part and denying in part the motion for preliminary injunction filed by the Texas Bankers Association, Rio Bank (a Texas...more

Ballard Spahr LLP

CFPB Spring 2023 rulemaking agenda includes proposed larger participant rule for nonbanks in consumer payments market

Ballard Spahr LLP on

The CFPB has released its Spring 2023 rulemaking agenda as part of the Spring 2023 Unified Agenda of Federal Regulatory and Deregulatory Actions.  The agenda’s preamble indicates that “[t]he Bureau reasonably anticipates...more

Spilman Thomas & Battle, PLLC

Plaintiffs Pursuing Increased Class Action Claims for Overdraft Fees and Charges Against Customers

With plaintiff attorneys seeing potential large dollar settlements and verdicts, along with increased regulatory scrutiny, banks need to review their overdraft practices. As noted by the American Bankers Association, banks...more

Poyner Spruill LLP

Another Challenge to the CFPB’s Constitutionality

Poyner Spruill LLP on

The Fifth Circuit vacated the Consumer Financial Protection Bureau’s (CFPB) 2017 Payday Lending Rule following its finding that the funding structure of the CFPB is unconstitutional. The CFPB filed a petition for certiorari...more

Spilman Thomas & Battle, PLLC

All Consuming - Financial Litigation Insights, Volume 3, Issue 11

Data Breaches Pennsylvania Settlements with Experian and T-Mobile Why this is important: Pennsylvania’s Attorney General, Josh Shapiro, announced on Monday, November 7, 2022, that Pennsylvania entered into settlements...more

Orrick, Herrington & Sutcliffe LLP

CFPB Enforcement Power: 3 Trends to Follow

The Consumer Financial Protection Bureau (CFPB) has expanded its oversight of nonbank financial entities (nonbanks) to add to its available regulatory tools in response to the rapid rise of nonbank financial products and...more

Spilman Thomas & Battle, PLLC

All Consuming - Financial Litigation Insights, Volume 3, Issue 5

CFPB Invokes Dormant Authority to Examine Nonbank Companies Posing Risks to Consumers and CFPB Claims Oversight Over More Entities Including Fintechs; Says It Will Publish Supervisory Determinations - "The CFPB is also...more

StoneTurn

CFPB and Dodd Frank: What FinTechs Need to Know

StoneTurn on

The Fintech industry has been experiencing rapid growth in recent years, and it is not surprising that this level of growth generates a lot of attention from regulators. Fair or unfair, Fintech firms have been scrutinized as...more

Goodwin

2021 Year in Review: Consumer Finance

Goodwin on

[co-authors: Amelie Hopkins, and Collin Grier] The year 2021 started with the hope of COVID-19 vaccines and a return to (relative) normalcy, only to conclude with new variants that presented new challenges and extended...more

Katten Muchin Rosenman LLP

Financial Services Industry Year in Review: Regulatory Enforcement and Litigation Trends in 2021 and Beyond

Just like the rest of us, the financial services industry wasn't immune from the numerous and unprecedented pandemic-related challenges over the past year. Through our annual Financial Markets Litigation and Enforcement...more

Womble Bond Dickinson

President Biden Signs Executive Order Revitalizing Regulatory Oversight of Banks and Encouraging New Consumer-Friendly Portability...

Womble Bond Dickinson on

On July 9, 2021, President Biden signed the wide-ranging Executive Order on Promoting Competition in the American Economy, aimed at increasing competition in all sectors of the American economy, including banking and consumer...more

Katten Muchin Rosenman LLP

The CFPB's Debt Collection Rule: New Industry Requirements Will Assist Debt Collectors in Minimizing Litigation Risk

Key Points - - The Consumer Financial Protection Bureau released the first part of final rules on permissible communications in connection with the collection of consumer debt, called the Final Rule. - This advisory...more

Manatt, Phelps & Phillips, LLP

California’s Expansive New Financial Protection Agency: What You Need to Know Right Now

California is poised to enact broad new legislation creating an entirely revamped financial protection regimen, including a powerful new Department of Financial Protection and Innovation (DFPI). In this article, we provide...more

Morrison & Foerster LLP

CFPB California Style: The California Consumer Financial Protection Law Brings More Providers Of Consumer Financial Products And...

On August 31, 2020, the California legislature passed the California Consumer Financial Protection Law (CCFPL). The law reflects Governor Newsom’s vision of a much more powerful banking agency with new registration authority,...more

Manatt, Phelps & Phillips, LLP

CFPB News: Bureau Places Itself Under the Microscope

In a potentially critical new development, the Consumer Financial Protection Bureau (CFPB or Bureau) will now impose what it characterizes as independent “peer review” on certain of its more important internal research. Will...more

Alston & Bird

CFPB Issues Policy Statement on Dodd-Frank “Abusiveness” Standard, But Important Uncertainties Remain

Alston & Bird on

A&B ABstract: The Consumer Financial Protection Bureau (“CFPB” or the “Bureau”) issued a Policy Statement to provide a framework for how it intends to apply the Dodd-Frank Act’s “abusiveness” standard going forward in its...more

Nutter McClennen & Fish LLP

Nutter Bank Report: September 2019

Headlines - FDIC Adopts Final Rule Establishing Community Bank Leverage Ratio Framework OCC Issues Compliance Guidance on Registered Appraisal Management Companies CFPB Announces New Policies to Promote Innovation...more

Nutter McClennen & Fish LLP

Fintech in Brief: Issues to Consider in Connection with the CFPB’s Proposed Product Sandbox and Policy Changes for No-Action...

Bank, nonbank, and Fintech providers of consumer financial products and services may be able to reduce their exposure to compliance risk under the December 13, 2018 No Action Letter (“NAL”) Policy changes proposed by the...more

Nutter McClennen & Fish LLP

Nutter Bank Report November 2018

Federal Banking Agencies Propose Alternative Capital Framework for Community Banks - The federal banking agencies have proposed a new community bank leverage ratio (“CBLR”) framework that would simplify regulatory capital...more

Ballard Spahr LLP

CFPB proposes revisions to trial disclosure policy

Ballard Spahr LLP on

The CFPB is proposing significant revisions to its “Policy to Encourage Trial Disclosure Programs” (TDP Policy), which sets forth the Bureau’s standards and procedures for exempting individual companies, on a case-by-case...more

Robinson+Cole Data Privacy + Security Insider

Opening a Bank Account with a Smartphone—Dodd-Frank Roll-Back Making Online Banking Easier

President Trump recently signed into law the Economic Growth, Regulatory Relief and Consumer Protection Act, which is already making waves in the financial sector for its repeal of certain Dodd-Frank provisions that were...more

142 Results
 / 
View per page
Page: of 6

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
- hide
- hide